Indonesia Stocks Rebound as Airport Reopens

Indonesia’s IDX Composite rose 46 points, or 0.7%, to 6,663 in early Tuesday trade, snapping a two-day slide on broad gains across transport, cyclicals, and industrials. Sentiment improved after the reopening of the country’s main international airport, Soekarno-Hatta, shut for two days by volcanic ash from the eruption of Mount Anak Krakatau. Meanwhile, fresh data showed August forex reserves also climbed to a five-month high, aided by government loan withdrawals. However, upside was capped by caution ahead of key data in top trading partner China, with August trade figures due later today and CPI/PPI later this week, while domestic focus turned to consumer confidence and July retail trade. Globally, U.S. stock futures fell sharply amid Middle East uncertainty. Early standouts included Merdeka Battery Materials (7.8%), Raharja Energi Cepu (6.0%), Sarana Menara Nusantara (4.4%), and Sarana Mitra Luas (3.3%).

Indonesian stocks rose 30 points, or 0.4%, to 6,662 in early trading on Monday, rebounding from the prior decline as healthcare, energy, and infrastructure sectors lifted sentiment. Support came from government signals that the Free Nutritious Meals program budget could be trimmed below IDR 200 trillion in 2027, seen as a prudent fiscal step. However, upside was limited by a sharp drop in U.S. futures with Wall Street shut Monday for a holiday. Locally, concerns lingered over natural disasters, including Mount Anak Krakatau’s eruptions over the weekend, which heavily disrupted air travel and affected 170,000 people. Traders also stayed cautious ahead of key domestic releases this week, notably August forex reserves, consumer sentiment, and July retail sales. In main trading partner China, CPI and PPI data will also be due in the coming days, along with trade performance. Notable movers included Adaro Andalan (5.1%), Bukit Asam (4.9%), Kalbe Farma (3.2%), and United Tractor (2.6%).

Indonesia’s IDX Composite edged up 15 points or 0.2% to 6,676 in early Friday trade, holding gains from the prior session and touching its highest level in 3-1/2 months. Sentiment was supported by an overnight Wall Street rally after Fed Governor Waller’s dovish remarks prompted traders to pare back rate-hike bets. Confidence also improved with a smooth leadership transition at Bank Indonesia, as newly inaugurated Governor Destry Damayanti pledged responsive policy to safeguard stability and economic growth. However, upside was tempered by caution ahead of key domestic data due next week, including August forex reserves, consumer sentiment, and July retail sales. Inflation worries also lingered after August figures accelerated amid potential El Niño-related food supply disruptions. Notable movers included Indah Kiat Pulp & Paper (1.7%), Mitra Adiperkasa (1.1%), and Bumi Resources (1.0%). For the week, the market is on track to post solid gains of about 2.7%, reversing prior declines.